Plan to release housing lots welcomed, but supply is needed across Melbourne

The Property Council of Australia welcomed the announcement by the Liberal Opposition to fast-track land release in the growth areas, however housing supply must also be increased across Melbourne.

Acting Victorian Deputy Executive Director Linda Allison welcomed the announcement, particularly the two year target for the completion of Precinct Structure Plans.

“Melbourne’s land market is an important source of Victoria’s new housing, particularly in this climate of strong population growth.”

“Release of this land will provide housing for thousands of Victorians and also create vital construction jobs.

“We welcome this positive announcement and look forward to the other elements of the Opposition’s housing affordability plan foreshadowed today,” said Ms Allison.

The Property Council cautioned that housing affordability must be addressed right across Melbourne, especially in the middle ring suburbs.

“We all know Melbourne is growing and we will need to provide housing options for people across the city, not just on the fringe.

“Housing supply is not keeping pace with demand across all segments of the housing market. Measures to bring more housing choice throughout Melbourne is an important part of addressing affordability.

“We remain extremely concerned with the Opposition’s recent announcement to effectively shut down housing supply in the middle ring of Melbourne.

“It is entirely appropriate for medium density homes to occur in areas with existing services and infrastructure and close to jobs, provided it occurs in an appropriate manner.

“The Opposition’s recent announcement to limit supply in established areas, will affect first home owners, downsizers and everyone in between and creates more uncertainty for the community and industry,” said Ms Allison.

The Property Council stressed the importance of reducing delays in the new housing market to help home owners move into their new homes more quickly.

“Land release is a positive step, but the timely provision of planning approvals, infrastructure and services is equally important,” said Ms Allison.